Page 3361 - Business Finance
Brent crude rises as U.S. inventories drop, supply outlook uncertain
SINGAPORE (Reuters) - Brent crude oil edged up on Wednesday after a second successive drop in U.S. crude inventories driven by an outage at the Syncrude Canada oil sands facility, which usually supplies the United States.
Euro zone business activity picked up in June but doubts linger - PMI
LONDON (Reuters) - Euro zone business growth accelerated in June, offering encouragement to the European Central Bank to tighten policy, but optimism among purchasing managers was at its lowest ebb since late 2016, a survey found.
Drivezy drives into Hyderabad with a fleet of 500 bikes and
Peer-to-peer vehicle sharing platform Drivezy today announced the launch of its bike sharing services, with a fleet of 500 bikes and scooters, in Hyderabad. Bengaluru-headquartered Drivezy currently operates in four other places -- Mumbai, Pune, Mysuru and Goa. Drivezy is looking to triple its revenue and fleet size in the current financial year, a company statement said. The company aims to utilise the additional fleet to include one-way, intra-city sharing services for motorcycles and scooters. This will allow customers to pick a two-wheeler from designated locations and drop it at any Drivezy location within city limits, it was stated. Unlike conventional rental services, this absolves the need of returning the vehicle at the point of origin, providing customers a greater degree of convenience. This will allow customers to travel at half the price of autos and taxis, the statement said. "Drivezy's marketplace allows individual vehicle owners to list their idle cars, ...
Samsung India gears up for big business expansion on July 9
Buoyed by its continuous growth, South Korean electronics giant Samsung India is set to announce a key business expansion to further cement its position in the country on July 9.
Sainsbury's puts sales growth slowdown down to price cuts
LONDON (Reuters) - Sainsbury's, Britain's second biggest supermarket group, said sales growth slowed over the past three months because of price cuts and denied it had been distracted by its deal to take over rival Asda.
Germany: Merkel pledges 'every effort' to avert US trade war
German Chancellor Angela Merkel said today that the European Union will make every effort to avoid a trade war with the US and underlined her country's commitment to raise defence spending gradually - another point of contention with Washington. President Donald Trump's administration has imposed tariffs on EU steel and aluminum imports and is mulling whether to add tariffs on cars, trucks and auto parts, something that could be painful for Germany with its major auto industry. "It is worth every effort to try to defuse this conflict so that it doesn't turn into a real war, but of course there are two sides to that," Merkel told the German parliament, noting that the head of the EU's executive Commission, Jean-Claude Juncker, will soon travel to the U.S. She added that the good functioning of the world economy depends on countries working together as partners, and also questioned the value of measuring surpluses and deficits by trade in goods alone. If digital services were included, .
Shriram Transport Finance Company Ltd leads losers in 'A' group
SREI Infrastructure Finance Ltd, Vakrangee Ltd, NBCC (India) Ltd and Kwality Ltd are among the other losers in the BSE's 'A' group today, 04 July 2018.
ICICI Bank's mortgage portfolio crosses Rs 1.5 trn
ICICI Bank on Wednesday announced that it has crossed the milestone of disbursing mortgage loans of over Rs 1.5 trillion.
Muthoot Finance eyes disbursal of Rs 300 cr personal loans in
Kerala-based Muthoot Finance has set a target to disburse Rs 300 crore personal loans during the current financial year, a top company official said today. The company, which had earlier offered gold loans announced its foray into the personal loan category aimed at serving salaried individuals. "We have noticed lot of gold loan customers have the potential to be given a personal loan. This is purely for salaried individuals. We have seen the potential and have already started offering it in Kerala and Karnataka," Muthoot Finance, Executive Director, George M Alexander said. The company, has so far disbursedpersonal loans worth Rs 50 crore since its foray into the personal loan category. "We are launching today in Tamil Nadu. We will be entering Telangana and Andhra Pradesh very soon. By then we would have covered Southern States. We want to touch Rs 300 crore (personal loans) by end of the (financial) year," he told PTI. "The company has set a target of disbursing Rs ...
Soyabean, mustard oils up on millers' buying
Prices of soyabean and mustard oil firmed up by Rs 50 per quintal at the wholesale oils and oilseeds market today on emergence of buying by vanaspati millers. However, non-edible oils moved in a narrow range in limited deals and pegged at the last levels. Traders said increased offtake by vanaspati millers to meet rising demand from retailers against restricted supplies from growing regions mainly pushed up soyabean and mustard oil prices. In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils were trading up by Rs 50 each to Rs 7,700 and Rs 7,300 per quintal, respectively. Mustard expeller (Dadri) also traded higher by a similar margin to Rs 7,750 per quintal. Following are today's quotations (in Rs per quintal): Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000. Edible oils: Groundnut mill delivery (Gujarat) Rs 8,450, Groundnut Solvent Refined (per tin) Rs 1,720-1,820, ...
Expert Views: India raises local rice purchase price by 13 percent to woo farmers
MUMBAI (Reuters) - India has raised the price at which the government will buy new- season common rice variety from domestic farmers by 13 percent, Home Minister Rajnath Singh, as the state looks to woo millions of farmers ahead of general elections due early next year.
Benchmarks extend intraday gains
Key indices firmed up further and hit fresh intraday high in mid-afternoon trade. At 14:22 IST, the barometer index, the S&P BSE Sensex, was up 221.11 points or 0.62% at 35,599.71. The Nifty 50 index was up 54.70 points or 0.51% at 10,754.60.
Simon Smith to head Ola's operations in Australia
Ride hailing app Ola today said it has appointed Simon Smith as the Managing Director of its operations in Australia. In this role, Smith will head and develop the leadership team and play a pivotal role in building Ola's presence, including strategy, marketing, product development, customer service, and engagement with driver-partners and other stakeholders, Ola said in a statement. He previously held various roles including that as Chief Executive Officer of eBay Australia, Non-Executive Director of Sportsbet, VP of Virtual Offices at Servcorp and a consultant at McKinsey and Company, it added. Ola, which competes with US-based rival Uber in the Indian and Australian market, had announced its plans to foray into the Australian market in January this year. Thereafter, it started offering services in Perth, Sydney, Melbourne, Canberra, Brisbane and the Gold Coast. The Bengaluru-based company plans to shortly launch its services in Adelaide. "Simon is a very entrepreneurial and ...
Kitex Garments Ltd leads losers in 'B' group
Eon Electric Ltd, New Delhi Television Ltd, Akme Star Housing Finance Ltd and BIGBLOC Construction Ltd are among the other losers in the BSE's 'B' group today, 04 July 2018.
Gold climbs Rs 210 on global cues, jewellers' buying
Gold prices surged by Rs 210 to Rs 31,570 per ten grams at the bullion market today, largely driven by a firm trend overseas amid pick-up in buying by local jewellers. However, silver remained under selling pressure and slipped below the Rs 40,000-mark by plunging Rs 390 to Rs 39,910 per kg. Traders said sentiment bolstered after gold prices rose to a one-week high in global markets, rebounding from a seven-month low touched in the previous session, as a softer US dollar stoked demand for the yellow metal. Globally, gold rose 0.32 per cent to USD 1,256.30 an ounce in Singapore. Besides, increased buying by local jewellers to meet retailers demand at domestic spot market, supported the uptrend, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 210 each to Rs 31,570 and Rs 31,420 per ten grams, respectively. It had lost Rs 290 in the previous four days. Sovereign, however, remained flat at Rs 24,800 per piece of eight grams. On the other .
Volumes soar at Shriram Transport Finance Company Ltd counter
Shriram Transport Finance Company Ltd recorded volume of 152.47 lakh shares by 14:14 IST on NSE, a 20.23 times surge over two-week average daily volume of 7.54 lakh shares
Hong Kong Hang Seng finishes 1.06% lower
Companies with the most exposure to the US market were the worst performers on the Hang Seng Index, with Sunny Optical Technology Group and AAC Technologies Holdings shedding at least 3% each.
China Stocks fall 1% ahead of US tariff on Chinese goods
The uncertainty over trade policy was still hanging over markets. Planned tariffs on up to $34 billion on Chinese products are set to go into effect on Friday. The Trump administration was seen as keeping the U.S.-China tensions alive after late Monday saying it seeks to block China Mobile from operating in the U.S. market. The White House cited national security interests as the reason for refusing China Mobile access to the U.S.
Japan Nikkei falls 0.31% on weak offshore lead, trade tensions
High-tech stocks tracked Wall Street peers and fell. Tokyo Electron dropped 4.44%, Advantest Corp shed 4.29%, SUMCO Corp fell 4.74% and Screen Holdings lost 4.18%. Panasonic Corp dropped 2% after Tesla Inc tumbled overnight on the back of scepticism over its Model 3 vehicles. Panasonic supplies Tesla with automotive batteries.
Freight rates decline on heavy availability of trucks
Freight rates for nine-tonne pay load section declined by Rs 1,000 for select destinations in the local truck transport market in the national capital today following ample availability of trucks. Transporters said ample availability of trucks in the market amid restricted cargo movements led to the fall in freight rates of some of the centres. Delhi to Indore, Jaipur, Chandigarh, Ludhiana and Gwalior freight rates moved down by Rs 1,000 each to Rs 23,000, Rs 18,000, Rs 19,000, Rs 20,000 and Rs 16,000, respectively. Rates to Hyderabad, Vijayawada and Bengaluru also went down by Rs 1,000 each to Rs 57,000, Rs 59,000 and Rs 62,000, respectively.